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Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)
 

Gift cards build stronger employee loyalty

Retaining top performing employees and preparing them to take over the reins during the next decade is a top priority for most organisations, according to a study by the Incentive Research Foundation.

The study, entitled '10 Trends for Merchandise and Gift Card programmes in 2015', found that a crucial part of that process will involve Merchandise and Gift Card programmes that inspire and connect with these future leaders, keeping them happy, productive and engaged.

The IRF has identified 10 central trends that will help managers better understand what's in store for the future in terms of this key motivational tool:

  1. Positive Impact on Programme Design
    The number of organisations that believe economic conditions are having a negative impact on incentive programmes continues to decline. Conclusion: Both the relative long-term buoyancy and the overall current positive state bode very well for Merchandise and Gift Card reward programmes in 2015.
  2. Budgets Trending Up
    Almost 50% of planners in the fall of 2014 said they'll be increasing their budgets; additionally, per-person spend is up. Conclusion: Barring unforeseen economic or extreme political changes, budgets will maintain a strong positive trajectory for the next few years.
  3. Experiences Lead the Way
    We're entering a phase that has been called the "Experience Economy," with more robust experiences desired by different age groups. Conclusion: Suppliers of Merchandise and Gift Card-based award and recognition programmes must ensure the overall experience intended for each individual recipient is appropriate and rewarding - whether employee, salesperson, or channel partner.
  4. Limited Luxury
    It's important to seek a balance between necessity and luxury. Electronics and "open loop" Gift Cards are now popular items for programmes. Conclusion: Items that can be personalised and items that ride the line between hedonistic and security drives will be popular in 2015 and beyond.
  5. An App In Everything
    The proliferation of mobile devices and apps is trending to Merchandise having similar functionality. Conclusion: We will no doubt see movement away from specific devices that maintain multiple applications to applications embedded in all aspects of daily life and products.
  6. Wellness is a Booming Industry
    A relatively large number of employers continue to introduce wellness rewards, noting that the use of noncash items drives participation. Conclusion: Both the amount of products used to incent wellness and the types of products labeled with wellness attributes will continue to grow.
  7. Disruption as a Constant State
    Social, political and environmental unrest continue to present programme risks. During such times, Merchandise and Gift Cards are providing a safe haven for many companies. Conclusion: This trend will increase the use of reward & recognition programmes, force suppliers to disclose their risk mitigation plans more readily and increase the number of organisations looking to outside partners for risk mitigation.
  8. Mobile Proliferation
    Mobile device saturation is leading many companies to allow employees to bring their own devices to work. In fact, over half of the people in a recent survey believed "BYOD" could serve as a retention and recruitment tool, especially with Millennials. Conclusion: programme communications will not just need to be available on mobile devices, they'll need to be configured across multiple platforms as well.
  9. CEOs Need To Attract And Retain Talent
    Thanks to shifts in worker population demographics, CEOs are confronted with a smaller number of people entering the job market than the number of people leaving it. Conclusion: Noncash reward & recognition programmes will be a key tool for executives seeking to motivate multiple generations and "train up" the next run of leaders more quickly.
  10. Engaged In What?
    In today's knowledge economy, successful organisations need their employees to be engaged in new (non-core) roles. Conclusion: As organisations continue to attract and retain top performers, agile noncash programmes like Gift Cards and Merchandise will be key strategic tools.


Sources: Incentive Research Foundation IRF /
The Marketing Factbook.
Copyright © 2015 - 2025 The Marketing Factbook.

    Categorised as:

  • Customer Experience
  • Customer Loyalty
  • Knowing The Customer
  • Marketing Know-How
  • Marketing Technology

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)
 
Copyright © 2001-2025 Peter J. Clark